https://www.taxtmi.com/caselaws?id=329710 Overdue interest on non-performing assets was treated as not taxable on accrual basis where a co-operative bank followed the statutory accounting framework and RBI prudential norms; the mere separate reflection of such interest in accounts did not make it real income, so the addition was deleted. Interest earned on the Agricultural Credit Stabilisation Fund remained includible in income because the issue had already been decided against the assessee in earlier years. Interest under section 234B was upheld as mandatory and consequential once statutory conditions were met, leaving the assessee successful only on the NPA interest issue. en-us Fri, 06 May 2016 00:00:00 +0530 Thu, 07 Jul 2016 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329710 Overdue interest on non-performing assets was treated as not taxable on accrual basis where a co-operative bank followed the statutory accounting framework and RBI prudential norms; the mere separate reflection of such interest in accounts did not make it real income, so the addition was deleted. Interest earned on the Agricultural Credit Stabilisation Fund remained includible in income because the issue had already been decided against the assessee in earlier years. Interest under section 234B was upheld as mandatory and consequential once statutory conditions were met, leaving the assessee successful only on the NPA interest issue. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329710